In Mid 2006 the asking price per multi-family unit was $118,000/ unit in the state of Florida. Then came the market correction.
Asking prices for Florida apartment buildings for sale declined and dropped to $62,000 per at the end of 2011. Asking prices remained more or less flat finishing 2012 at $61,000 per unit.
2013 saw the first significant increase in asking prices, increasing to $62,000/unit by the end of the first quarter and increasing again to $67,500 by the end of the second quarter.
In the third quarter of 2013 asking prices per unit in Florida decreased to $66,000 per unit
The asking price of apartment buildings for sale in Tampa Bay has always been lower than the prices of Florida State.
Tampa Bay is a good place for investors to seek commercial property for sale. When the market peaked in 2006, asking prices in Tampa Bay multi-family were $87,000/unit as compared to the state level of $118,000 per unit.
As the market corrected, asking prices in Tampa Bay dropped to $45,000/unit by the end of 2011. Closely mirroring the general trend lines of Florida State, the asking prices in Tampa Bay remained flat at $45,000 per unit through the end of 2012.
In 2013 prices increased to $45,000 per unit. In the third quarter of 2013 asking prices in Tampa Bay dipped slightly to $44,000 per unit
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